Facebook Usage Soars, But Online Advertising Plunges

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Facebook Inc. said usage of its products was skyrocketing because of the coronavirus pandemic but warned that increased activity wouldn’t shield the company from the online-advertising pullback roiling Silicon Valley and Madison Avenue alike.

In a post on Tuesday afternoon, Facebook said total messaging across the platform’s services has increased 50% in countries hit hard by the virus, with video messaging more than doubling. In Italy, which has undertaken some of the strictest restrictions on public life of any country…

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